James Bell, Chairman, Chicago Infrastructure Trust

Why we're watching: Bell, a retired Boeing executive, is leading one of Mayor Rahm Emanuel's signature initiatives: an infrastructure trust that pools money from outside investors, such as banks and union pension funds, and pours them into public works projects. Of course, those investors will want their money back, plus some profit. That will come through fees and cost savings. A cost-saving example would be an investor supplying the trust with $50 million to retrofit buildings, which results in lower energy bills. The energy savings are then used to pay back the $50 million plus interest over time. Fee examples could include extending an "L" line or laying new fiber-optic cable. User fees would then funnel back to investors. Bell's first challenge will be to hire a CEO schooled in high finance yet willing to work on a public servant's salary and endure intense scrutiny. (The trust is an independent 501(c)3 nonprofit, creating a host of oversight issues.) Bell, who did not respond to a request for comment, also faces a challenge helping convince the public that each project will turn out nothing like the disastrous parking meter deal. No trust projects will be sold off as the parking meters were, but skeptics warn the effect might be the same: higher fees for public services. Photo: James Bell listens during a meeting of the Chicago Infrastructure Trust in December. (Alex Garcia/ Chicago Tribune)

Why we're watching: Bell, a retired Boeing executive, is leading one of Mayor Rahm Emanuel's signature initiatives: an infrastructure trust that pools money from outside investors, such as banks and union pension funds, and pours them into public works projects. Of course, those investors will want their money back, plus some profit. That will come through fees and cost savings. A cost-saving example would be an investor supplying the trust with $50 million to retrofit buildings, which results in lower energy bills. The energy savings are then used to pay back the $50 million plus interest over time. Fee examples could include extending an "L" line or laying new fiber-optic cable. User fees would then funnel back to investors. Bell's first challenge will be to hire a CEO schooled in high finance yet willing to work on a public servant's salary and endure intense scrutiny. (The trust is an independent 501(c)3 nonprofit, creating a host of oversight issues.) Bell, who did not respond to a request for comment, also faces a challenge helping convince the public that each project will turn out nothing like the disastrous parking meter deal. No trust projects will be sold off as the parking meters were, but skeptics warn the effect might be the same: higher fees for public services. Photo: James Bell listens during a meeting of the Chicago Infrastructure Trust in December. (Alex Garcia/ Chicago Tribune)